Engineering Economics & Lifecycle Cost Decision-Making

This 2-CEH course provides a practical framework for comparing engineering alternatives over time. It focuses on present-value thinking, lifecycle cost, total cost of ownership, repair-versus-replacement analysis, residual value, sensitivity analysis, uncertainty, and transparent communication of assumptions.

Learners examine relevant and incremental costs, sunk costs, study-period selection, present-value methods, operating and maintenance costs, replacement timing, downtime, end-of-life effects, residual value, repair-versus-replace decisions, economic life, scenario testing, switching values, and documentation of decision-quality assumptions.

The course concludes with a 10-question multiple-choice final examination. A score of 70% is required to pass, and retakes are permitted until passed.